She may not be the prettiest girl but at least she’s out there
The home of the famous Mummer’s parade struts its stuff for the bond markets.
The city of Philadelphia was named tops for transparency in a University of Illinois at Chicago survey of cities providing investors with financial information online.
Every municipality, like every person, has problems. Hiding them doesn’t instill confidence in investors. I’m glad to see Philly and other cities letting it all hang out. From the the Philadelphia Inquirer:
Philadelphia won praise for providing not only archived and current financial information about the city’s finances, but also links to documents related to future bond issues and its policies on debt management and the uses of swaps, which are financial derivatives.
No Senator Wyden your bill will not pass
It’s always reassuring when your intuition is confirmed by an expert. I thought is unlikely that Senator Ron Wyden’s second attempt to remove the tax-exempt status of municipal bonds would get traction in Congress. That’s because states and local governments are a potent lobbying force there. A very powerful force.